- Consumer confidence in US weakened modestly in January.
- US Dollar Index stays below 90.50 after the data.
The Consumer Sentiment Index in the US fell to 79 (final) in January from 80.7 in December, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in slightly lower than the market expectation and the flash estimate of 79.2.
Further details of the publication revealed that the Current Economic Conditions Index declined to 86.7 from 90 and the Index of Consumer Expectations edged lower to 74 from 74.6.
Commenting on the data, “although the nation is still being ravished by the pandemic, and the nation’s cooperative reactions have been far from perfect, consumers have helped to dissipate the potential for further harm,” said Surveys of Consumers chief economist, Richard Curtin. “Precautionary motives will continue to shape both economic and personal behavior.”
Market reaction
The US Dollar Index largely ignored this report and was last seen posting small losses on the day at 90.43.
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